Amazon Run-Up Not Over; Oppenheimer says $250
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Price: $213.21 -2.62%
Rating Summary:
67 Buy, 8 Hold, 2 Sell
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Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
67 Buy, 8 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Oppenheimer analysts reiterated their OUTPERFORM rating on Amazon.com (NASDAQ: AMZN) and raised the price target $16 from $234 to $250.
“We view Amazon.com as one of the few large-cap opportunities to have secular exposure to eCommerce, which is gaining share from off-line retailers,” noted an Oppenheimer analyst.
“In addition, AMZN continues to gain share of US eCommerce with its deep product selection, low-cost express delivery through its Prime program, and breakthrough success of its Kindle e-reader platform. Furthermore, AMZN's ability to operate at a substantial negative inventory position and the low capital requirements of the business should help to drive strong free cash flow growth.”
The $250 price target applies a 17x multiple on Oppenheimer’s 2018 non-GAAP EPS estimate of $25.84, discounted back 10% to 2013.
For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.
Shares of Amazon.com closed at $195.99 yesterday.
“We view Amazon.com as one of the few large-cap opportunities to have secular exposure to eCommerce, which is gaining share from off-line retailers,” noted an Oppenheimer analyst.
“In addition, AMZN continues to gain share of US eCommerce with its deep product selection, low-cost express delivery through its Prime program, and breakthrough success of its Kindle e-reader platform. Furthermore, AMZN's ability to operate at a substantial negative inventory position and the low capital requirements of the business should help to drive strong free cash flow growth.”
The $250 price target applies a 17x multiple on Oppenheimer’s 2018 non-GAAP EPS estimate of $25.84, discounted back 10% to 2013.
For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.
Shares of Amazon.com closed at $195.99 yesterday.
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